117 - Timeless Wisdom for Crypto Investors | Jim O'Shaughnessy
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Hyperbolic Discounting
There is a thing called hyperbolic discounting. What it really means is you're shortening your time son without knowing you're doing it. Every time you check the price of crypto, or anything like ten times a day, what your brain is saying is, oh, we need to pay attention to these short, probably very meaningless moves up and down. And when you become a hyperbolic discounter, you pull triggers way too fast, and almost always to your detriment. So, i'm guilty of this. It's a term of art.
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